OPERATIONS RES APP W/ STUDENT SOL MAN
4th Edition
ISBN: 9780534662257
Author: WINSTON
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Expert Solution & Answer
Chapter 5, Problem 15RP
a.
Explanation of Solution
Profit
- The new optimum solution value or profit is calculated by the given formula:
- The key row value can be calculated by the given formula:
b.
Explanation of Solution
Pay for additional labour
- From the LINDO output, the shadow price of row 7 is 43.82.
- Here labours can be purchased at $15 per hour.
- Hence the pay for additional labour is given by
c.
Explanation of Solution
Pay for another bushel of alfalfa
- From the LINDO output, the shadow price of row 4 is 11.76...
d.
Explanation of Solution
Optimum solution
- The new optimum solution value or profit is calculated by the given formula:
- The key row value can be calculated by the given formula:
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
IKEO is a furniture manufacturer which produces two sizes of wood blocks (type A and B) thatare used to make either a table or a chair. A table is made of a type A and a type B wood blocks,while a chair is made of a type A and two type B wood blocks.A table makes RM 3 profit, and a chair makes RM 5 profit. If M number of type A and Nnumber of type B wood blocks are produced, how many tables and chairs should themanufacturer make to obtain the greatest profit?For example, let M = 12 and N = 12.By making 4 tables (4 type A and 4 type B) and 4 chairs (4 type A and 8 type B), themanufacturer gain profit as follows,Profit = (RM 3) × 4 + (RM 5) × 4 = RM 32.If the manufacturer makes 2 more tables and 1 less chair, the profit will be increased as follows,Profit = (RM 3) × 6 + (RM 5) × 3 = RM 33.Is this the greatest profit?Write a complete C++ program to help the manufacturer determine the greatest profit obtainfrom making tables and chairs with a given number of M type A and N type B wood…
5. A farmer in Georgia must decide which crop to plant next year on his land: corn, peanuts, or soybeans. The return from each crop will be determined by whether a new trade bill with Russia passes the Senate. The profit the farmer will realize from each crop, given the two possible results on the trade bill, is shown in the following payoff table:
Course
Professor
Fulton
Ray
Scott
Crop
Trade Bill
Pass
Fail
Corn
Peanuts
Soybeans
$35,000 $ 8,000
18,000 12,000
22,000 20,000
Determine the best crop to plant, using the following decision criteria. a. Maximax
b. Maximin
c. Minimax regret
d. Hurwicz (a = .3) e. Equal likelihood
HOMEPRO is a furniture manufacturer which produces two sizes of wood blocks (type A and B) thatare used to make either a table or a chair. A table is made of a type A and a type B wood blocks,while a chair is made of a type A and two type B wood blocks (See Figure 1)
A table makes RM 3 profit, and a chair makes RM 5 profit. If M number of type A and Nnumber of type B wood blocks are produced, how many tables and chairs should themanufacturer make to obtain the greatest profit?For example, let M = 12 and N = 12.By making 4 tables (4 type A and 4 type B) and 4 chairs (4 type A and 8 type B), themanufacturer gain profit as follows,Profit = (RM 3) × 4 + (RM 5) × 4 = RM 32.If the manufacturer makes 2 more tables and 1 less chair, the profit will be increased as follows,Profit = (RM 3) × 6 + (RM 5) × 3 = RM 33.Is this the greatest profit?
Write a complete C++ program to help the manufacturer determine the greatest profit obtainfrom making tables and chairs with a given number of M type A and…
Chapter 5 Solutions
OPERATIONS RES APP W/ STUDENT SOL MAN
Ch. 5.1 - Prob. 1PCh. 5.1 - Prob. 2PCh. 5.1 - Prob. 3PCh. 5.1 - Prob. 4PCh. 5.1 - Prob. 5PCh. 5.2 - Prob. 1PCh. 5.2 - Prob. 2PCh. 5.2 - Prob. 3PCh. 5.2 - Prob. 4PCh. 5.2 - Prob. 5P
Ch. 5.2 - Prob. 6PCh. 5.2 - Prob. 7PCh. 5.2 - Prob. 8PCh. 5.3 - Prob. 1PCh. 5.3 - Prob. 3PCh. 5.3 - Prob. 4PCh. 5.3 - Prob. 5PCh. 5.3 - Prob. 6PCh. 5.3 - Prob. 7PCh. 5.3 - Prob. 9PCh. 5.3 - Prob. 10PCh. 5.3 - Prob. 11PCh. 5 - Prob. 1RPCh. 5 - Prob. 2RPCh. 5 - Prob. 3RPCh. 5 - Prob. 4RPCh. 5 - Prob. 6RPCh. 5 - Prob. 7RPCh. 5 - Prob. 8RPCh. 5 - Prob. 9RPCh. 5 - Prob. 10RPCh. 5 - Prob. 11RPCh. 5 - Prob. 12RPCh. 5 - Prob. 13RPCh. 5 - Prob. 14RPCh. 5 - Prob. 15RPCh. 5 - Prob. 16RP
Knowledge Booster
Similar questions
- A farmer is planning to raise wheat and barley. Each acre of wheat yields a profit of $50, and each acre of barley yields a profit of $70. To sow the crop, two machines, a tractor and a tiller are rented. The tractor is available for 150 hours, and the tiller is available for 200 hours. Sowing an acre of wheat requires 4 hours of tractor time and 1 hour of tilling. Sowing an acre of barley requires 3 hours of tractor time and 2 hours of tilling. How many acres of each crop should be planted to maximize the farmer’s profit? (Let W be the number of acres of wheat to be planted, B the number of acres of barley to be planted and P the profit) What is the objective function for the problem? Excluding the non-negative constraint, how many constraints does the problem have? What is the linear programming model of the problem? In the initial tableau, what is the leaving variable? What is the pivot element in the initial tableau? What is the optimal solution to the problem? After how many…arrow_forwardIKEO is a furniture manufacturer which produces two sizes of wood blocks (type A and B) thatare used to make either a table or a chair. A table is made of a type A and a type B wood blocks,while a chair is made of a type A and two type B wood blocks (See Figure 1) A table makes RM 3 profit, and a chair makes RM 5 profit. If M number of type A and Nnumber of type B wood blocks are produced, how many tables and chairs should themanufacturer make to obtain the greatest profit?For example, let M = 12 and N = 12.By making 4 tables (4 type A and 4 type B) and 4 chairs (4 type A and 8 type B), themanufacturer gain profit as follows,Profit = (RM 3) × 4 + (RM 5) × 4 = RM 32.If the manufacturer makes 2 more tables and 1 less chair, the profit will be increased as follows,Profit = (RM 3) × 6 + (RM 5) × 3 = RM 33.Is this the greatest profit? Write a complete C++ program to help the manufacturer determine the greatest profit obtainfrom making tables and chairs with a given number of M type A and N…arrow_forward
Recommended textbooks for you
Operations Research : Applications and AlgorithmsComputer ScienceISBN:9780534380588Author:Wayne L. WinstonPublisher:Brooks Cole
Operations Research : Applications and Algorithms
Computer Science
ISBN:9780534380588
Author:Wayne L. Winston
Publisher:Brooks Cole